/biz/ - Business & Finance

Curve as well btw. Kek! LayerZero has the massive first-mover advantage. CCIP BTFO

>governance tokens

Lol. This is what you get. Some VCs can either buy up a load and get whatever they want or pay the devs who almost always have a majority voting power and force whatever they want through.

The only way they can get anyone to use Layer Zero is paying them or setting up shell VC projects. Same shit with JUMP and all Sol products

>>56498667
smiling_friendly_harmless_ari.png

>>56498667
>>56498682
they successfully destroyed any credibility in one move
ccip is coming

>>56498667
at this point it really just feels like crypto as a whole is just waiting for ccip. there hasn't been any big developments since defi, which of course was also because of chainlink.

>>56498667
>>56498682
pathetic

>>56498682
>>56498667
>first mover advantage
I would argue that getting the traditional banking system on board was the first mover advantage

>>56498831
look up the actual threads
layerzero fucked up bad

whats the surprise? ccip is a product built for a world where layer 2 networks lose to a very large number of disparate layer 1 networks. in other words its a product built for a world where ethereum loses, solana loses, avalanche loses, cosmos loses, and instead we get many smaller layer 1 networks with their own ecosystems and liquidity needs.

ccip is betting on a world where the power law doesn't exist.
unfortunately there's no such universe.

>>56498695
not to mention every aspect of this is permissionless. lido can't stop someone wrapping and issuing wrapped versions of assets on other platforms. its up to the users to decide if they trust those wrapped assets, nobody else.

everything about this is perfectly acceptable except for those who wrongly believe they would be bale to use governance tokens to influence parties that are not governed by them.

>>56499054
>>56499063
I totally believe you, a random anon, have figured out what the countless PhDs, and industry leading experts with gigachad h-index scores at CLL have all overlooked. Tell me where to put my money please.

>>56498667
LayerZero pays people to use it. I know this because they paid the last company I was at several million dollars just to say we will use them (we never did, we abandoned the product we were working on that could have theoretically done that.)

LayerZero can not do what CCIP does, and therefore their only plays are to pay shitty little crypto nothings to “use” them. So this is their plan.

So you may ask “how then will they make money and pay back their VC overlords?”

Well they are going to print a token and dump it on retail. Very simple, and it’s the only play failing web3 companies have. My last company included. I know with certainty this is their plan, I was in many calls with them about it and even at a conference where they joked about how anyone who isn’t dumping a token on retail in this industry is an idiot. They are bad actors through and through.

is this entire thread bait? lido is literally shitting on layerzero for being a shit non product kek

>>56498837
Quick rundown?

>>56500061
LayerZero deployed a wstETH token on Avalanche and BNB
They did this without asking Lido first
They made them appear official on their Stargate bridge and accompanied it with a marketing campaign
Their cross-chain tech is suspect at best
Their expectation is that Lido will just accept this situation and adopt their rogue deployment. Hence the "this is not the way to run this process" comment in OP pic at the end.

>>56500059
Yes the thread is bait. It’s a shitting on LZ thread. Either shit on them or look like a retard.

>>56498667
Can you read you illiterate twat? This is the opposite of what is happening


the lido community is very much against this;
take a look at the thread discussing it. AVAX and BNB both used LAyerZero to put stETH on their chains without any sort of approval from Lido, hence these stETH should not be considered real stETH. The lido community is pissed this was all done without any vote and rightly expresses a lot of concern for the security and implications of the move, arguing they need way more time to consider the move

https://research.lido.fi/t/wsteth-on-avalanche-and-bnb-and-ownership-acceptance-by-lido-dao/5749/11

>>56500012
have you fallen for a bunch of academics trying to pretend they understand the market? you should try cardano, it's where the other pseudo-intellectuals hang out.

>>56500084
>YOU MUST ASK OUR PERMISSION FIRST!!!!
what part of decentralization you can't understand, moron?
If the community dont want it they can just dont adopt it and it will die quietly as usual

>>56500084
>>56500139
making it appear "official" is the only problem
lido has no other leg to stand on.
permissionless protocols don't care.

>>56500149
it's par for the course in the high estrogen world of ethereum and it's orbiting moons of defi, oracles, and bridges. lots of jawboning about decentralization, governance, alignment, when in reality it's a bunch of startups with tokens looking for their next shot of liquidity.

>>56500169
If LIdo chooses to say it's not recognized as official stETH, then it is literally worthless, no one outseide afew degen retards will risk their stETH. Judging by the link3ed thread of the lido community, they don't look like they are gonna get on board with this at all. LayerZero probably just shot their chances of ever being used as a solution for Lido by doing this

>>56498667
>>56498682
Holy shit, the LayerZero VC is posting in the lido thread and already backstepping, saying if they use thier service (layerzero) in conjunction with Chainlink's CCIP it should mitigate some of the security concerns the LIDO community has. They barely launched their rogue bridge and are already pre-emptively bending the knee

>>56500204
they can cry all they want, if a bridge holds collateral it holds collateral. lido's blessing or not doesn't change the risk associated nor the value.
do you understand how bridges even work?

>>56500144
Please share your vast knowledge with me oh grand crypto wizard. Surely you have made millions already. I ask for but a humble crumb that might help me find myself amongst a mere fraction of the vast riches that im sure reside in your wallet.

>>56498682
CRV also denying they approve or are working with LayerZero on this

>>56500243
LayerZero needs the LidoDAO to be on board to claim the contracts for any of it to work

>>56500257
>your vast knowledge with me oh grand crypto wizard
i already did in the post you quoted. ccip and similar ideas are built for a world we're not seeing emerge. you're betting on many layer one networks that have no native means of sharing liquidity or assets, but all having such similar capabilities that those assets are still compatible and useful across them.

in reality we see a power law distribution, layer two networks as their own native bridges, and instead of a flourishing ecosystem of alt-l1s a rotating set of pump and dump networks discarded in the bear market.

>Surely you have made millions already
correct, but it's likely too late for you to replicate my results, the market is too mature.

>>56500280
they don't though, they're just trying to be nice. anyone can create a bridge of any asset.

>>56500344
>correct, but it's likely too late for you to replicate my results, the market is too mature.
not so fast faggot. there is allways a supply of retards willing to lose their money

>>56498682
>LayerZero has the massive first-mover advantage
lmao

Michael from CLL making LINK look kind of pathetic in the LIDO thread though. Oh well, fun to read through and eat some popcorn

>>56500012
Quite ironic that an anon is using fallacy of authority and an ad hominem in the same post

>>56500403
it's a dao retard, they have to post publicly for proposals

>>56500234
kek its really over for all them jeets. it was over before it even started. Chainlink won. Linkies won. Trannies lost.

>>56500054
the sad thing is that their plan will probably work quite well for them in the short term and they will raise gorillions of dollars from retard retail investors. A few years later they will be completely forgotten and CCIP will be the backbone of everything

>>56500344
>correct, but it's likely too late for you to replicate my results, the market is too mature
I totally believe you. I am the prince of Nigeria btw. If you send me 69 BTC i will send you 420 BTC tomorrow.

>>56500461
>look at the logical fallacies i have memorized, haha therefore the other guy is correct
>>>/reddit/
Is that way

>>56500234
Arjun Chand is part of Li.Fi, not L0, dumbass.